Big petrol price increase coming in South Africa

rpm

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Big petrol price increase coming in South Africa

The Automobile Association (AA) said the weaker Rand and higher oil price would result in much higher fuel prices in South Africa.

“Fuel prices were already trending higher before the widespread looting and unrest of the past few day,” the AA said.
 

Lupus

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I'll say it again, the Rand has dropped 1.5% and the oil price has remained relatively the same? They are basing this off one day where the Rand almost dropped 3%
 

cr@zydude

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I'll say it again, the Rand has dropped 1.5% and the oil price has remained relatively the same? They are basing this off one day where the Rand almost dropped 3%

Look at the prices of petrol in Singapore and the Mediterranean and diesel in the Mediterranean and Arabian Gulf. They correlate extremely well with SA's basic fuel price, since the CEF use them and shipping costs to calculate the basic fuel price.

In the long run oil, petrol and diesel will have the same movements, but there are short term differences.
 

Lupus

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So oil dropped again now at lower levels, the Rand seems to have stabilized around R14.60 so where do they think 87c? In fact we should in reality see a drop
 

cr@zydude

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So oil dropped again now at lower levels, the Rand seems to have stabilized around R14.60 so where do they think 87c? In fact we should in reality see a drop

Yesterday's drop doesn't undo the previous under recoveries. The lower oil price will help to lower the increase in August, but it is almost impossible to switch to a decrease.
 

Neuk_

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pinball wizard

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So oil dropped again now at lower levels, the Rand seems to have stabilized around R14.60 so where do they think 87c? In fact we should in reality see a drop
Come on now. You saw last year at the height of level 5 crackdown, cANCerous cadres literally stealing the food out of the poor's mouths. You think that same organisation is now hell bent on looking after us?


(That's actually going to be my standard response to anything remotely controlled by these numb cunts.)
 
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